Gold Prices Surge to Record High, One Sovereign Reaches Rs 47,080

Gold prices have reached a record high, with one sovereign now priced at Rs 47,080, marking a significant increase of Rs 320 from the previous day’s rate. The price surge continues, with gold trading at Rs 5,885 per gram after a daily rise of Rs 40. Despite the continuous uptrend in prices, the demand for gold remains strong, driven by its perception as a safe and reliable investment compared to other options. The determining factors for gold prices include international market rates, the exchange rate of the rupee against the dollar, and the prevailing import duty.

In the last 10 days, gold prices witnessed a decline only on November 30, registering a drop of Rs 60 per gram compared to the previous day. The consistent increase in gold prices highlights its sustained appeal among investors, emphasizing its role as a resilient asset amid economic uncertainties.